Pulmonary Fibrosis Treatment Market is Forecasted to Reach US$ 6.07 Billion by 2034, Fact.MR

Advancements in Healthcare Infrastructure and Increased Accessibility to Specialized Therapy Fostering Adoption of Pulmonary Fibrosis Treatment: Fact.MR Report

ROCKVILLE, MD, UNITED STATES, July 17, 2024 /EINPresswire.com/ -- As per a recently released industry report published by Fact.MR, the global pulmonary fibrosis treatment market is set to reach a valuation of US$ 3.29 billion in 2024 and is evaluated to expand at a CAGR of 6.3% from 2024 to 2034.

Increasing prevalence of chronic respiratory diseases like pulmonary fibrosis, particularly among aging populations, has created a pressing need for therapeutic interventions. As life expectancy rises worldwide, the burden of age-related illnesses, including pulmonary fibrosis, is expected to amplify, fueling the market's growth. On top of this, heightened awareness and advancements in diagnostic techniques have led to improved identification of pulmonary fibrosis cases, contributing to the rising demand. With no curative options currently available, patients rely heavily on treatments that can alleviate symptoms, slow disease progression, and improve overall quality of life.

Increased access to healthcare services in developing countries has played a role in fueling the demand for pulmonary fibrosis treatments globally. The convergence of demographic shifts, heightened disease awareness, lack of curative options, commercial incentives, and improved healthcare accessibility is boosting demand for pulmonary fibrosis treatments.

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Key Takeaways from Market Study
The global pulmonary fibrosis treatment market is forecasted to reach a size of US$ 6.07 billion by the end of 2034. The market in Canada is calculated to expand at a CAGR of 8.5% from 2024 to 2034. Demand for pulmonary fibrosis treatment in Mexico is analyzed to rise at a CAGR of 8.2% from 2024 to 2034.

The South Korea market is evaluated to expand at a noteworthy CAGR of 10.6% through 2034. Revenue from pulmonary fibrosis treatment in East Asia is projected to rise at a CAGR of 8.7% from 2024 to 2034. North America is evaluated to hold a market share of 68.2% by the end of 2034. Demand for monotherapy is projected to reach a market value of US$ 2.38 billion in 2024.

“Growing awareness about pulmonary fibrosis and its symptoms among healthcare providers and the general public can lead to earlier diagnosis and treatment. This is a key driver for pulmonary fibrosis market growth,” says a Fact.MR analyst.

Focus on Advancements in Inhalable Formulations and Sustained-Release Systems to Enhance Treatment Efficacy

The business of pulmonary fibrosis treatments is witnessing exciting advancements aimed at enhancing patient outcomes and quality of life. One promising avenue involves developing anti-fibrotic therapies that target the underlying mechanisms of fibrosis, potentially arresting or reversing the accumulation of scar tissue in the lungs. Furthermore, researchers are exploring the application of stem cell therapies and regenerative medicine approaches to restore damaged lung tissue.

Gene therapy and targeted molecular therapies are under scrutiny as potential treatment modalities. Progress in drug delivery systems, including inhalable formulations and sustained-release mechanisms, is also ongoing to improve the effectiveness and convenience of current treatments. Collectively, these innovative strategies show significant potential to offer more efficient and personalized treatment choices for individuals affected by pulmonary fibrosis.

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Key Companies Profiled
F. Hoffman - La Roche Ltd.; Boehringer Ingelheim; International GmbH; Cipla Ltd (Cipla); Gilead Sciences, Inc.; Bristol-Myers Squibb Company; FibroGen Inc.; Galecto, Inc.

Competitive Analysis
Key players in the pulmonary fibrosis treatment market are engaging in consolidation initiatives, including mergers and acquisitions. A further noteworthy strategy observed in the sector is the growth of business partnerships to enhance pulmonary fibrosis treatment offerings and adapt themselves to the evolving market trends such as cystic fibrosis devices, cutaneous fibrosis treatment, and pulmonary arterial hypertension.

According to the German News Agency (DPA), a research team based in the United States has created an analytical tool that may help find a treatment for idiopathic pulmonary fibrosis, or IPF, by using a novel method for creating blood vessels from living lung tissue in the lab.

More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the pulmonary fibrosis treatment market for 2019 to 2023 and forecast statistics for 2024 to 2034.

The study divulges essential insights into the market based on therapy (monotherapy, combination therapy, symptomatic therapy), indication (idiopathic pulmonary fibrosis, familial PF), and distribution channel (hospital pharmacies, retail pharmacies, mail order pharmacies), across seven major regions of the world (North America, Latin America, Eastern Europe, Western Europe, East Asia, South Asia & Pacific, and MEA).

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